PT Media Nusantara Citra Tbk, an Indonesian media company, plans to sell 300 million to 400
million of euro-denominated bonds in the second or third quarter of this year to refinance debt.
The company appointed Standard Chartered Plc and Morgan Stanley as underwriters for the five- to seven-year bonds. The notes will be listed on the Singapore Stock Exchange.
Media Nusantara will use the proceeds of the bond sales to pay $143 million and 200 billion rupiah ($22.2 million) of debt due next year. MNC also canceled a plan to issue 500 billion rupiah of medium-term notes.
In line with issues bonds, the company also plans to divest a 20% stake in PT MNC Sky Vision (Indovision) to strategic investors.
Tuesday, April 27, 2010
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